HomeMy WebLinkAbout0944 j~ ~0 (Vartable) ~W., , ~ , ? I.~ ~
This is a balfoon mortgage securing a variable adjustable rate~obligation. Assuming
that the initial rate of interest were to apply for the entlre term ~f the mortgage, the
final payment o~ balance due upon maturity would he approximately ~ 35,OOJ.OQ
together with accrued inte~est~ if any, and all advancements matte by the mortgagee
unde~ the tenna of this moK9age. The a~ctual balance due upon maturity may vary ~
depending on changes in the rate of interest.
s S~"
Thia MoRgage is made this 24~ day of April by and between patrick F.
Duncan and Inq+e S. Duncan, his wife ~
("Mortflagor"), and BamNt Bank of St. Lucie County (~•Mortgagee").
the address of which ~ 900 E. Prima Vista Blvd. , Port St. Lucie, Florida 33452
WitnMa~th:
' wHEREAS, Mortgaqor is indebted to Mortgagee in the principal sum of ~~v Five Z4zousanci anci 00/100
a
togeths~ with interest thereon. as evidenced by that certain promissory note of even date
herewith, executed by Mortgagor and delivered to Martgagee, the tinal paymen~ ot which is due on or before the 24th
ril 1987 ' ' "
day of ~ (the "Note"), which by reference is made a part hereof to the same extent as though set out m fu11
herein;
NOW, THEREFORE to secure the performance by Mortgagor of all covenants and conditions in the Note and ~n m~s
Mortgage and in all other instruments securirig ;he Note, and in order to charge the properties. mterests and rignts nereinatter
described with such payment and performance and to secure addiUOnal advances. renewals and extensions thereof and for
and in consideration of the sum of Ten and no/ 100 Oollars (S10.00). Mortgagor does nereby mortgage. se~i, pledre and ass:gn
to Mortgagee:
Tho Mo~ga~sd Propwty
(A) All of the tand in the counry of St. Lucie ~ , described below:
Lot 29, Block 90, River Park Unit Fbur, acvordira to the plat thereof, r~corded
_ in Plat Bo~k 11, Paqe 9 of the Public Reoords of St. Lucie Cainty, Florida.
to have and to hold the same. together with all the ~mprovements now or hereafter ereded on such property and alI fixtures now
or hereafter attached thereto, iOgether with each and ev@ry tenem2nts. heredit3ments, easerttents, nghts. pOwers. pri~ileges.
immunities and appurtenances thereunto beionging or in anywise appertaining and the revers~on and revers~ons, rema~nder
: and remainders, and also all the estate. right, title. interest, homestead. right o! dower. separate estate, property. possess~on
and claim whetsoev~ in taw as weli as in equiry of Mortgagor of, in and to the same in every part and parcel thereof unto
Mortgagee in tee simple.
(8) Together with a securiry interest in all personal properry and lixtures affixed to or located on the prcperty descnbed in ~
paragraph A.
(C) Together with alI rents, issues. profits, revenue. income and other benefits from theproperty descr~bed in paragraph tA1
hereof co be applied to the indebcedness secured hereby, provided however. t!~at perm~ss~on ~s r,ereoy g~ven to Mortgagor so
iong as no default has occurred hereunder, to colleq. rece~ve, and use sucr~ benefits from the property as chey oecome due
,
and payable, but not in advance thereof.
(D) Everythin~ referred to in paragraphs (A), {B) and (C) hereof and any additional property hereafter acqu~red by
r Mo~tgagor and subjed to the lien of this Mortgage or any part of these properties is herein reterred to as the "Mortgaged
~ Pr~~ , .
PROVIOED ALWAYS. that if Mortgagor shatl pay to Mortgagee the Note at the times and in the manner st~pulated :here+n.
~ and in all other instruments securing the Note, induding renewals. extension or modification thereof, and in this Mort
e gage and
; in ail other instruments securing!he Note, to be kept, performed or observed by Mortgagor, then this Mortgage, shafl Cease and
be void. but shaU otherwise remain in full force and effect.
~ MoRgagor Gavenents 3nd agrees with Mortgaqee as follows: ' '
4 1• Co~npllanCt wlth Noh snd MoKqaq~ Wart~rtty Of Tlfl~. 'Mortg2~gor shelt C~mply with a!I provisions of Ihe Note. ~
~ th~s Martqage and of every other instrument securing the Note, and wtll prompty pay to Mortgagee the pnncipai w~th mterest
? thereon and all other sums required to be paid by Mortgagor under the Note and pursuant to the pravis~ons cf th~s Mor,gage I
~ and of every other instrument securing the Note. Mortga~or covenanis that Mortgagor owns and ~s indefeas~b~y se~zed of the j
; Mortgaged Properry in fee simple, that the Mortgaged Praperty is hee frorri a11 encumbrances except as noted ~n the iegal !
' description above, that Mongagor has Iawful autharity to convey, mortgage and encumber the same as prov~Ced by the ;
~ Mortgage, that Mortgagee may peaceabry anc~ ety en~oy the Mortgaged Property, and that Mortgagor wi~l defend the ~
Mortgaged Property against the daims of all p~. _,,ns whomsoever, and that Mortgagor so warrants. ~
~ , 2. PaymMt of Tasc~a a~d Liena. Mor?gagor shalt pay all the taxes: assessments. levies. liabilities. ~bligatbns and ~
~ encumbrances of every nature now on the Mortgaged Property or thaS hereatter may be imposed, levied or assessed upon th~s j
! Mortgage or the Mortgaged Properry or upon the indebtedness secured hereby. Aff such payments to be made when due and ~
~ < payabie accarding to iaw betore they become detinquent and before any ~nterest attaches or any penaty is mcvrred. insofar as ~ ~ !
~ arry indebtedness is of record the same shall be prompty satisfied and evidence of such sa!isfadion shall be given to
Mortgagee.
3. Insu~~a. Mortgagar shai; Reep the Mortgaged Property and the ~mprovemencs now exi;ting or hereafter erected on
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